MCO - If you shorted MCO, now would be a good time to cover. It is very over sold, and no question the fundamentals suck, but the stock is down some 15% from when I indicated to go short. Translate that decline via the options, and your sitting on a huge ass gain.
It can keep going down, but I don't like being greedy.
FCX - If a hedge against a week dollar is desired, look to play FCX w/today's weakness. There are a few benefits w/this play... 1. The weak dollar hedge, 2. The global infrastructure play and 3. Global Inflation hedge. (This is the miner to be in, but i'm not looking to go very heavy in the name at this time... basically a hedge position.)